No letup in Europe’s currency battles

The currency wars that Brazilian Finance Minister Guido Mantega first warned of in 2010 have never quite reached a boiling point. But currency skirmishes are certainly under way as unprecedented loose global monetary policy continues to reverberate through markets.
In Europe, both the euro and the Turkish lira, and the headaches they pose for their respective central banks, are testament to that. The first trading day of 2014 brought some relief for the European Central Bank, as the euro recorded its sharpest one-day decline against the dollar since November. The single currency hit a two-year high above $1.38 as 2013 closed, sparking worries about its impact on growth and inflation………………………………………..Full Article: Source